Electrolux AB (FRA:ELXC)

€ 8.758 -0.072 (-0.82%) Market Cap: 2.36 Bil Enterprise Value: 4.95 Bil PE Ratio: 0 PB Ratio: 2.88 GF Score: 69/100

Q4 2023 Electrolux AB Earnings Call Transcript

Feb 02, 2024 / 08:00AM GMT

Release Date Price: €8.54 (-1.45%)

Transcript

Jonas Samuelson

Electrolux AB - President & CEO

Good morning and warm welcome to Electrolux Group's fourth quarter 2023 Results Presentation. With me today, I have our CFO, Therese Friberg, and for the final time, our Head of Investor Relations, Sophie Arnius. I'd like to mention that this session is recorded and will be available on our website as an on-demand version for the full year 2023 challenging market conditions have continued to pressure profitability most significantly in North America, but also to some extent in Europe and Asia Pacific.

While Latin America has performed very well in a more stable market environment than we have experienced in recent years. In most countries there, consumer demand was impacted by inflation and interest rates in most parts of the world resulting in lower unit volumes. Overall price remained a slightly positive factor for the calendar year, but increasing promotional activity progressively turn net price negative in the second half of the year.

Specifically in North America unit volume demand held up at relatively good levels there only

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